New Delhi, October 26, 2018: Dairy ingredients provide satisfactory nutritional, organoleptic, and functional needs. Dairy ingredients contain calcium, protein, vitamin A, vitamin B12, zinc, and magnesium, which are necessary for the development of bone density and nourishment. India is the largest producer and consumer of milk on account of implementation of different schemes such as National Mission on Bovine Productivity, which was implemented in November 2016. The scheme was entitled to a financial allocation of around US$ 126 million to be spent over a period of three years for the genetic improvement of cattle and water buffalo population through delivery of breeding inputs to the dairy farms according to reports published in openpr.com
According to the Food and Drug Administration (FDA), the fluid milk consumption in India was recorded at 67.7 million metric tons in 2018, which was around 4% higher than the previous year. Furthermore, the country recorded butter consumption of 5.6 million metric tons in the same year. The high consumption is majorly attributed to the constantly increasing population and rising income of the consumers among others.
Global Dairy Ingredients Market Outlook:
Europe region dominated the dairy ingredients market in 2017 and is expected to retain its market dominance over the forecast period. Bakery products find wide preference among the consumers in Europe. According to Coherent Market Insights, the per capita consumption of bakery products in Germany was recorded at 85.5 kilograms in 2017, followed by France with a per capita consumption of 71.5 kilograms and U.K, with a consumption of 47.3 kilograms in the same year. The consumption of bread accounted for a market share of over 75% in Europe followed by croissants, pastries, and savoury pastries. Furthermore, the chocolate consumption was also led by the European economies such as Switzerland, Germany, Russia, and U.K. among others. According to Coherent Market Insights, per capita consumption of chocolate in Switzerland was recorded at 8.8 kg in 2017, followed by Germany with a per capita chocolate consumption of 8.4 kg in the same year, followed by Russia and U.K.
Asia Pacific region emerged as the fastest growing market for dairy ingredients on account of rising consumption of bakery and confectionery products, dairy products, and others. Furthermore, the high population of emerging economies such as India and China is another key factor driving the demand for dairy ingredients market.
Global Dairy Ingredients Market Taxonomy
On the basis of product type, the global dairy ingredients market is segmented into:
Milk Powder (Skimmed Milk Powder & Whole Milk Powder)
Milk Protein Caseinates (MPC)
Milk Protein Isolates (MPI)
Milk Protein Hydrolysates (MPH)
Casein and Caseinates
Whey protein Concentrates (WPC)
The key players in global dairy ingredients market include Friesland Campina, Fonterra Co-operative Group Ltd., Dairy Farmers of America, Arla Foods, Glanbia Plc., Euroserum, Groupe Lactalis, Saputo Inc., Volac International Limited, and Devondale Murray Goulburn among others.